Perficient (PRFT) Introduces New Generative AI Initiatives
Perficient PRFT recently announced new and expanded generative AI initiatives to help clients accelerate their business and outpace the competition. These initiatives include a range of capabilities and service offerings that will enable clients use AI effectively.
Perficient’s initiatives help clients use AI and other technologies to create and scale innovative opportunities. Its AI solutions allow clients to transform businesses by turning information into assets with analytics, big data, content management, search, experience and optimization.
The new generative AI initiatives include launching a global Generative AI Innovation Group, A CX AI Jumpstart offering, a partnership with Writer to help clients adopt generative AI into any business process and a partnership with the Mark Cuban Foundation to increase AI literacy among students.
Perficient’s Expanding Partnerships to Aid Prospects
Perficient banks on a robust partner base that allows it to deliver essential platforms and tools for building digital experiences.
Perficient, Inc. Price and Consensus
Perficient, Inc. price-consensus-chart | Perficient, Inc. Quote
Perficient's long-standing strategic collaboration with Microsoft MSFT and International Business Machines IBM aims to deliver exceptional digital solutions across various industries and domains for clients.
Perficient offers a range of capabilities and service offerings that help clients harness the power of Microsoft Cloud and IBM Cloud, such as app modernization, cloud-native and low-code development, conversational AI and generative AI.
Its partnership with Adobe ADBE aims to provide digital experiences for clients using the Adobe Experience Cloud. It provides end-to-end, integrated marketing solutions on Adobe Experience Cloud that tackle complex business challenges.
Perficient’s collaborations, innovative product portfolio and aggressive global expansion strategy through acquisitions are expected to attract new customers in the coming quarters, thereby driving top-line growth.
Perficient’s Negative Business Outlook
Perficient shares have plunged 12.4% in the year-to-date period compared with the 37.2% rise of the Zacks Computer and Technology sector during the same time frame.
Perficient has been suffering from persistent macroeconomic challenges and raging inflation. Stiff competition from enterprises offering alternative solutions, regulatory complexities and unfavorable economic cycles are expected to hurt Perficient’s prospects in the rest of 2023.
This Zacks Rank #4 (Sell) company expects third-quarter 2023 revenues to be $220 million to $226 million. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $227.44 million, implying a 0.07% year-over-year decline.
The consensus mark for third-quarter 2023 earnings plunged by 19.35% to $1 per share in the past 30 days. This indicates a year-over-year decline of 9.91%.
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